• The price of ETC / USD is currently $ 21.24, down 9.00% in the past day.
• Trading volume has increased by 22.46% over the past day
• Technical indicators suggest a hawkish outlook in the short term
Short-term view: Ethereum Classic prices show signs of vulnerability
The Ethereum Classic Today’s price is $ 21.24 and the 24-hour trading volume is $ 331,476,193. Ethereum Classic has decreased by 9.00% in the last 24 hours. Transaction volume has increased over the past day as a result of increased sales activity, but the ratio of transaction volume to market capitalization of assets is 0.1154.
Ethereum Classic It reached a record high of $ 176.16 on May 6, 2021, but a series of subsequent revisions have lost a significant portion of its value. Currently, assets are on a downtrend.The Ethereum Classic Prices have been on a marked downtrend for the past few days as prices have fallen well beyond support levels due to the recent plunge. The next level of support for the asset is $ 20. The significant 20,50 SMA shows a bearish adjustment to the downtrend, with Ethereum Classic prices trading below them on the 4-hour chart. Conversely, altcoin resistance is set at $ 25 and the Bulls need to do this.
Long-term outlook for Ethereum Classic prices
The Ethereum Classic RSI slope is currently trading at 42.15, showing a downtrend. The RSI line was below the 14-day average line as it indicates a lack of bullish attempts to leave the territory. Therefore, as selling pressure increases, RSI shows a strong bear trend. The MACD and signal lines are bearishly aligned and show a downward trend, lurking deep in the negative territory. In addition, the green histogram is struggling to gain traction even at current price levels. This is positive news for Ethereum Classic bears.
Conclusion
The Ethereum Classic technical indicators are very bearish in the short term, so a big plunge could be imminent after last week’s minor jump.
support: $ 20- $ 15
resistance: $ 25- $ 30
Disclaimer
The views and opinions expressed by the author or the people nominated in this article are for informational purposes only and do not establish financial, investment, or other advice. Investing or trading crypto assets carries the risk of financial loss.
